Elk River Wealth Management LLC Buys 100 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Elk River Wealth Management LLC raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,897 shares of the medical research company’s stock after acquiring an additional 100 shares during the period. Thermo Fisher Scientific comprises approximately 1.1% of Elk River Wealth Management LLC’s holdings, making the stock its 29th largest holding. Elk River Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $6,126,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Capital World Investors boosted its stake in Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after buying an additional 1,231,059 shares in the last quarter. Swedbank AB bought a new stake in Thermo Fisher Scientific in the first quarter valued at about $705,636,000. Ameriprise Financial Inc. raised its position in Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after purchasing an additional 604,895 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in Thermo Fisher Scientific by 743.6% during the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after purchasing an additional 296,646 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Thermo Fisher Scientific by 31.9% in the 2nd quarter. Principal Financial Group Inc. now owns 1,022,270 shares of the medical research company’s stock valued at $565,316,000 after purchasing an additional 247,110 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.6 %

NYSE:TMO traded up $3.73 during mid-day trading on Monday, hitting $600.65. The company had a trading volume of 131,704 shares, compared to its average volume of 1,463,294. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The firm has a market cap of $229.45 billion, a P/E ratio of 37.09, a P/E/G ratio of 3.80 and a beta of 0.77. The business’s fifty day moving average is $607.73 and its two-hundred day moving average is $583.46.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter last year, the company earned $5.15 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,084 shares of company stock worth $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TMO. Morgan Stanley boosted their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Robert W. Baird upped their target price on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Evercore ISI boosted their price target on shares of Thermo Fisher Scientific from $605.00 to $630.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Stifel Nicolaus raised their price objective on shares of Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Finally, Bank of America increased their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $653.72.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.